Media Landscape Lecture 2 Lesson 2

Front 1

What are the characteristics of media products:

Back 1

-costs

-experiential

-high-risk

-public/private

-Heterogenous and identical

Front 2

Why does media has a high fixed first costs and low copy costs?

Back 2

The first copy is cost extensive in terms of money, time, cameras, creative. However, low marginal costs because of massive duplication technologies of media products. more you produce, lesser the cost

Front 3

Define economies of scale:

Back 3

high initaial costs, low marginal costs due to massive dupication of media products: ex; Ford cars

Front 4

Define economies of scope

Back 4

media product can be sold in different formats (TV, radio, books etc...) Same type of content is used in different formats

Front 5

What's Windowing?

Back 5

Different media platforms are used at different points in time as a form of price discrimination

Front 6

Why do companies use Windowing procedures?

Back 6

Companies use windowing to know when

Front 7

Why do we say that media products are experiential goods?

Back 7

media products are based on originality, story-telling and creativity. You don't grasp it, you pay to have a short term experience of an idea

Front 8

Why are media products high-risk goods?

Back 8

difficult to predict consumer's preferences. Consumer taste is fickle. Never know how it can go.

Front 9

Why do media companies use high concept formulas over and over again?

Back 9

high concept formulas are based on already successful genres that consumers know and like. By doing high-concept content, companies are assured that some people will watch it eventually. "safe bet"

Front 10

What's cross-media?

Back 10

The same content is being offered over and over again in different formats (re-purposing).

Front 11

What's the difference between re-purposing and windowing?

Back 11

re-purposing: putting content into other formats
windowing: putting content into other formats with an emphasis on strategically choosing the right time to release the reformatted content

Front 12

Why do we say that media content is non-depletable or non- excludable?

Back 12

-you can't literally be consumed and disappear

-consuming a media product once will not deplete its availability to others

Front 13

What's an aggregator of content?

Back 13

They produce their own content but also organize the distribution it too. Ex: Youtube, Netflix, google

Front 14

Why do we say that the media market and the boundaries between producers of content, aggregators, distributors and consumers are blurring each other?

Back 14

Because factors are starting to do things themselves too. An actor can be an aggregator but also a distributor etc...

Front 15

What's a Value chain

Back 15

It is how companies employ a variety of resources and processes to create a product and services. It is the set of activities that lead to the finished product

Front 16

What's Disintermediation

Back 16

The removal of intermediates from the value chain (skipping steps and actors like skipping the agency part, or the marketing part...)

Front 17

What's Unbundling?

Back 17

Offering of two or more components of the same service together as a package at a special price: ex: if you buy microsoft office, you will have to buy the others, bundle.

Front 18

What's the name of the process that is done by organizations before entering a country's market?

Back 18

P.E.S.T analysis

Front 19

What doe PEST stand for ?

Back 19

Political, economical, social, and technological

Front 20

How can Government policies, advertising markets and hard-software can influence the value chain?

Back 20

puts a strain on the value chain, impact how things are done, gov' can force not to do things, tech can push people to stop doing things etc...

Front 21

What's adjacency?

Back 21

How companies change their products in order to follow the evolution of the market. Changing based on already-known expertise.
E,g: Amazon expanding to amazon go, echo kindle etc... should fit their corporate characteristics

Front 22

What are the main consequences of digitalization?

Back 22

-costs: producing media goods , cheap, ability to create niche products for everyone.

- Cross-media: Same content being put on different platforms

-diversification of content=safer in volatile market.

-increase in number of media distribution platforms

-content has to fit in different media outlet,

- behavioral targeting (what do people like? personalized content (tailoring)

-value chains change order of actors, less transitions etc..

Front 23

Advantages of vertical integration?

Back 23

large companies own different links of the production line

less transactions and security that product will go through the whole process without trouble/reliable

less chance of being take over by company

difficult for new players to enter the market

Front 24

What's fragmentation?

Back 24

a new player focuses on a single stage of the value chain and unbundles it into several activites: some companies only focus on content or only on marketing, etc..

Front 25

Why do we say that a value chain is Non-linear?

Back 25

dintermediation and unbundling, value chains are no longer sequential strings of activities

Front 26

Business models

Back 26

how an orgainzation creates, delivers, and captures value (how it makes money).
E.g: newspapers looking for new ways to make money cuz ad revenue decline

Front 27

Why do native media organizations are adapted to new media market?

Back 27

flexibility from lack of legacy package and responsibility, culture in native media organizations, only have to focus on digital without the paper thingy

Front 28

What's a Hit-model

Back 28

Difficult to predict what content catches on, blockbusters are here.

Front 29

why is the blockbuster strategy good?

Back 29

success creates success (easier to attract talent)

large companies have money to use hit strategy, small comapnies don't.

more likely to watch something that everyone does.

Front 30

biggest blockbusters less risks?

Back 30

you make sure that they're big but they will for sure bring money. While small movies for small niches

Front 31

what are adjacencies

Back 31

how organizations comes up with a successful response to its constantly changing environment.

Front 32

Why do we say that tech has always disrupted exiting media

Back 32

printing press (poor monks), radio ( pooor music concerts) etc...

Front 33

What's convergence?

Back 33

the coming together of sectors and product market that were previously distinct and separate.
ex: the guardian newspaper, but there's also the GuardianTV,

Front 34

give an example of convergence

Back 34

Iphone

Front 35

what's the dominant design

Back 35

periods of little change that is adopted by everyone. It's like a standard

Front 36

What are the 4 types of technological changes

Back 36

incremental, architectural, discontinuous, disruptive

Front 37

How does INERTIA WORK

Back 37

too big that can't do stuff, take too much time to do other things. EX: invested too much in legacy stuff, can't adapt as fast

Front 38

digital business units, what are they?

Back 38

sees online as an opportunity rather than as a threat. Flexible, with no vested interests in existing business.
-independent company
-new org' structure within company
-

Front 39

What's ambidexterity

Back 39

companies want to be able to be explorative and exploitative. two parts of a company, a creative part new business unit, while the other continues.